Steel_ Await Improved Fundamentals

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha March 25, 2025 06:30 AM GMT Steel | Japan Await Improved Fundamentals Asia steel fundamentals show no real signs of improving, but falling prices for secondary materials have led to a rebound in Asian steel margins. Numerous countries have moved to impose tariffs on Chinese steel. We await demand recovery from Japan. Adjust forecasts & PTs: On our F3/25 forecasts, we revise down for JFE, due to impairment losses at overseas group firms & operational issues domestically. We ar ...